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Balance Sheet December 31, 20XX Assets 1. Assets Cash 16 2 receivable 3. $ 31,000 Less allowance for 29,400 39,000 accounts 1,600 Notes Inventory Prepaid expenses 51,050 2,500 Assets $183,950 6. Assets Plant and equipment $110,000 23,000 $ 55,000 18,000 Less depreciation $ 87,000 7. Furniture and store equipment accumulated depreciation 37,000 Total 124,000 10 Assets $ 7,000 17 Patents Goodwill Total 10 TOTAL ASSETS Assets 18 $332,950 Liabilities Current Liabilities $ 39,295 29,455 Accounts 11 payable Salaries payable Taxes payable Total Current Liabilities 12 6,600 5,500 $ 80,850 13 Liabilities Mortgage Total $110,100 13 TOTAL LIABILITIES Liabilities 110,100 $190,950 Stockholders' 14 stock Retained earnings 15 $110,000 19 Total Stockholders' 14 20 Total Liabilities & 14 $332,950 Chapter 15 Activity: Balance It!! NOTE: ANSWERS MUST BE RECORDED IN TEXT BOX PROVIDED. 4 responses have been done for you below. Match the following words/numbers with the blanks in the balance sheet on page 2. DO NOT RECORD YOUR ANSWERS ON PAGE 2. ANSWERS MUST BE RECORDED in text box. Number 1-20 and put the correct answer in each number. I did # 7, 11, 17, and 20 for you! 1. Equity 2. Receivable 3. Accounts 4. Common 5. Accumulated 6. Fixed 7. 11 Payable 8. Less 9. Total 10. Intangible 11._1_ Current 12. Notes 13. Long-term 14. Assets 15. Doubtful 16. 142,000 17._17__18,000 18. 25,000 19. 62,000 20. 19 32,000 'This exercise is reprinted with the permission of Julie Boyles, Portland State University.

Balance Sheet December 31, 20XX Assets 1. Assets Cash 16 2 receivable 3. $ 31,000 Less allowance for 29,400 39,000 accounts 1,600 Notes Inventory Prepaid expenses 51,050 2,500 Assets $183,950 6. Assets Plant and equipment $110,000 23,000 $ 55,000 18,000 Less depreciation $ 87,000 7. Furniture and store equipment accumulated depreciation 37,000 Total 124,000 10 Assets $ 7,000 17 Patents Goodwill Total 10 TOTAL ASSETS Assets 18 $332,950 Liabilities Current Liabilities $ 39,295 29,455 Accounts 11 payable Salaries payable Taxes payable Total Current Liabilities 12 6,600 5,500 $ 80,850 13 Liabilities Mortgage Total $110,100 13 TOTAL LIABILITIES Liabilities 110,100 $190,950 Stockholders' 14 stock Retained earnings 15 $110,000 19 Total Stockholders' 14 20 Total Liabilities & 14 $332,950 Chapter 15 Activity: Balance It!! NOTE: ANSWERS MUST BE RECORDED IN TEXT BOX PROVIDED. 4 responses have been done for you below. Match the following words/numbers with the blanks in the balance sheet on page 2. DO NOT RECORD YOUR ANSWERS ON PAGE 2. ANSWERS MUST BE RECORDED in text box. Number 1-20 and put the correct answer in each number. I did # 7, 11, 17, and 20 for you! 1. Equity 2. Receivable 3. Accounts 4. Common 5. Accumulated 6. Fixed 7. 11 Payable 8. Less 9. Total 10. Intangible 11._1_ Current 12. Notes 13. Long-term 14. Assets 15. Doubtful 16. 142,000 17._17__18,000 18. 25,000 19. 62,000 20. 19 32,000 'This exercise is reprinted with the permission of Julie Boyles, Portland State University.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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Balance Sheet December 31, 20XX Assets 1. Assets Cash 16 2 receivable 3. $ 31,000 Less allowance for 29,400 39,000 accounts 1,600 Notes Inventory Prepaid expenses 51,050 2,500 Assets $183,950 6. Assets Plant and equipment $110,000 23,000 $ 55,000 18,000 Less depreciation $ 87,000 7. Furniture and store equipment accumulated depreciation 37,000 Total 124,000 10 Assets $ 7,000 17 Patents Goodwill Total 10 TOTAL ASSETS Assets 18 $332,950 Liabilities Current Liabilities $ 39,295 29,455 Accounts 11 payable Salaries payable Taxes payable Total Current Liabilities 12 6,600 5,500 $ 80,850 13 Liabilities Mortgage Total $110,100 13 TOTAL LIABILITIES Liabilities 110,100 $190,950 Stockholders' 14 stock Retained earnings 15 $110,000 19 Total Stockholders' 14 20 Total Liabilities & 14 $332,950
Transcribed Image Text:Balance Sheet December 31, 20XX Assets 1. Assets Cash 16 2 receivable 3. $ 31,000 Less allowance for 29,400 39,000 accounts 1,600 Notes Inventory Prepaid expenses 51,050 2,500 Assets $183,950 6. Assets Plant and equipment $110,000 23,000 $ 55,000 18,000 Less depreciation $ 87,000 7. Furniture and store equipment accumulated depreciation 37,000 Total 124,000 10 Assets $ 7,000 17 Patents Goodwill Total 10 TOTAL ASSETS Assets 18 $332,950 Liabilities Current Liabilities $ 39,295 29,455 Accounts 11 payable Salaries payable Taxes payable Total Current Liabilities 12 6,600 5,500 $ 80,850 13 Liabilities Mortgage Total $110,100 13 TOTAL LIABILITIES Liabilities 110,100 $190,950 Stockholders' 14 stock Retained earnings 15 $110,000 19 Total Stockholders' 14 20 Total Liabilities & 14 $332,950
Chapter 15 Activity: Balance It!! NOTE: ANSWERS MUST BE RECORDED IN TEXT BOX PROVIDED. 4 responses have been done for you below. Match the following words/numbers with the blanks in the balance sheet on page 2. DO NOT RECORD YOUR ANSWERS ON PAGE 2. ANSWERS MUST BE RECORDED in text box. Number 1-20 and put the correct answer in each number. I did # 7, 11, 17, and 20 for you! 1. Equity 2. Receivable 3. Accounts 4. Common 5. Accumulated 6. Fixed 7. 11 Payable 8. Less 9. Total 10. Intangible 11._1_ Current 12. Notes 13. Long-term 14. Assets 15. Doubtful 16. 142,000 17._17__18,000 18. 25,000 19. 62,000 20. 19 32,000 'This exercise is reprinted with the permission of Julie Boyles, Portland State University.
Transcribed Image Text:Chapter 15 Activity: Balance It!! NOTE: ANSWERS MUST BE RECORDED IN TEXT BOX PROVIDED. 4 responses have been done for you below. Match the following words/numbers with the blanks in the balance sheet on page 2. DO NOT RECORD YOUR ANSWERS ON PAGE 2. ANSWERS MUST BE RECORDED in text box. Number 1-20 and put the correct answer in each number. I did # 7, 11, 17, and 20 for you! 1. Equity 2. Receivable 3. Accounts 4. Common 5. Accumulated 6. Fixed 7. 11 Payable 8. Less 9. Total 10. Intangible 11._1_ Current 12. Notes 13. Long-term 14. Assets 15. Doubtful 16. 142,000 17._17__18,000 18. 25,000 19. 62,000 20. 19 32,000 'This exercise is reprinted with the permission of Julie Boyles, Portland State University.
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